Former NSSF manager denied bail in Sh2.6 billion graft case
Former NSSF investment manager Francis Moturi and Discount Securities LTD director David Githaiga before chief magistrate Lawrence Mugambi at Milimani Law Courts on January 31, 2022/ The Star NAIROBI, Kenya May 4- Former National Social Security Fund (NSSF) investment manager Francis Moturi is set to remain in prison pending the determination of his appeal against […]
Lobby group moves to block Arao’s appointment to head KCAA
KCAA offices in Nairobi, Kenya/ kcaa.or.ke NAIROBI, Kenya Apr 25- The Kenya Civil Aviation Authority (KCAA) board has named Nicholas Bodo as its acting Director-General. This comes after a court blocked the appointment of Emile Nguza Arao over the alleged abuse of office and financial misappropriation. Bodo, who is currently the Director of Air Services […]
KRA Freeze on raising taxes on Used Motor Vehicles extended
NAIROBI, Kenya, Apr 4 – The Kenya Revenue Authority(KRA) freeze on raising taxes on used motor vehicle imports has been extended by the Court of Appeal. Justices Patrick Kiage and Roselyn Nambuye stated that KRA would impose higher taxes after the conclusion of the suit, declining to lift the order. “The loss to be suffered […]
CBK moves to slash mobile money transaction costs
Central Bank of Kenya Governor Dr. Patrick Njoroge during a press briefing in Nairobi, Kenya/ CBK. NAIROBI, Kenya Feb 25- The Central Bank of Kenya (CBK) is looking to work with stakeholders in the telco industry to cushion consumers from unreasonably high transaction charges for digital payments. Speaking during the launch of the National Payments […]
Paid Insurance Claims Rise 21% In Q4 2021
IRA celebrating the regulator’s 10th-year anniversary/IRA NAIROBI, Kenya Feb 16- Over 2.3 million insurance claims were paid out during the last quarter of 2021, growing 21 percent compared to 1.9 million claims paid over the same period in 2020, data by the Insurance Regulatory Authority (IRA) has revealed. The latest statistics from the insurance regulator […]
Case to Block the Communication Authority’s Mobile Tariff Cuts Begins
The Communications Authority of Kenya headquarters in Nairobi/ Courtesy. NAIROBI, Kenya Feb 3- The Communications and Multimedia Appeals Tribunal is set to start hearing a petition by Safaricom against the Communications Authority of Kenya. The giant telco has petitioned the Communications and Multimedia Appeals Tribunal to block the decision by CA to drop Mobile Termination […]
How NSSF Lost Billions In Purchase of Non-Existent Shares
NAIROBI, Kenya, Feb 1 – The story begins in 2003 when the National Social Security Fund (NSSF) converted from a provident fund to a pension fund. Following the conversion, the board of trustees resolved to invest in shares in a bid to diversify their investment portfolio. According to the court proceedings, between August 2004 and […]
Kenya Ramps Up Push For Covid-19 Vaccine Factory
A Kenya Medical Supplies Authority (Kemsa) depot in Embakasi, Nairobi/ NMG NAIROBI, Kenya Jan 21- The Kenyan government has invited firms across the globe to bid for the construction of a Covid-19 vaccine plant, a move aimed at locally manufactured jabs. Through a public notice, the State is looking to recruit a consultant and a […]
Communications Union Seeks Government Bailout
Posta House in Nairobi’s CBD/ The Star NAIROBI, Kenya Jan 17- The Communication Workers Union (COWU) now wants the government to bail out the Postal Corporation of Kenya. The union which is affiliated to the Central Organisation of Trade Unions (COTU) wants the number of general managers reduced as a cost-cutting measure, and the Posta […]
KMRC Turns to Securities Market to Raise Sh10.5 billion
Traders at the NSE/ NSE website NAIROBI, Kenya Jan 14- The Capital Markets Authority has given the greenlight for Kenya Mortgage Refinance Company to float a Sh10.5 billion Medium-Term Note. The state-owned mortgage financier plans to issue the private bond in several tranches, starting with one for Sh1.4 billion which will be disbursed to participating […]
